Tax on Interest from Savings and FD

Hi,

I'm getting different opinions on this, so raising it as a seperate question.

The question is - what is the effective tax rate for  interest earned on Savings and FD's?

The bank deducts TDS at 10% on the interest it pays on Savings and FD. However, if a person is in 30% tax bracket, does he need to pay the remaining tax seperately? 

One of the CA's mentioned that  interest on Savings and FD is taxable only at 10%, irrespective of the individual's tax bracket. While many CA's on this forum mention that it is taxable as per individuals tax bracket, so the balance is payable as advanced tax. 

Can someone be kind enough to clarify this rule on  interest on Savings and FD?

Thanks,